Elon Musk is all ready to increase Twitter’s revenue by fivefold to a staggering amount of $26.4bn by the year 2028 according to a prospective presentation presented to Twitter’s investors.
Elon Musk wants Twitter to be more Profitable. Last year Twitter secured revenue of $5billion. The company is on its way to launching a new service under its new captain with the name of service X that would aims to secure nine million subscribers in the first year of service and plans to raise this number to 104 million by 2028. Kyle Rees, a tech industry analyst revealed that these goals are very tentative considering the state of the industry and global affairs. The NYT states that revelations with much more are presented in the “pitch deck” to the investors. It conveniently suggests that Elon Musk is anticipating a sharp rise in the number of total Twitter users. That is certainly far more than 200 million last year to an increased number of 900 million by 2028.
The pitch deck also revealed that Twitter will increase its workforce in the future to 3,600 employees by the end of 2025. But according to the NYT reports, the number of the staff member will fluctuate in the short term. Musk recently tweeted that employees should forestall work ethics expectations that are quite much but less than what I demand from me.
How much Twitter Earns?
In 2020, Twitter’s revenues were centered around advertising, amounting to at least 90% of the company’s total earnings. The subscription services that are still yet to be introduced, are anticipated to increase Twitter’s revenues and are estimated to generate almost $10billion by the year 2028. A major role is anticipated to be played in the new product that is named X. we are yet to receive complete details and a working model of the product.
The company is also aiming to increase the total number of Twitter Blue subscribers to 69 million users by 2025 and a subsequent number of 159 million by 2028. Twitter Blue services and accounts already exist providing its users features like undo the tweet button and also an ad-free article reading for a $3 per month subscription plan. However, Twitter has refused to comment on this.
Twitter under Elon Musk
Gartner, which specializes in marketing research, and Mr. Rees have stated that most of the goals revealed in the document are deemed to be contingent and are based on the expectations that the platform will grow its user base and the total number of subscribers. This might or might not be the case in the future. But we are talking about Mr. Musk here, a serial entrepreneur who has proved in the past of entering uncertain industries that errands its incumbents and successfully transforms the status quo.
Whether it is the payments and digital finance industry, spaceships or satellites, automotive or now social media. Mr. Musk seems to have a knack for bringing the entire product and service category to the front and I am expecting to see the same knack here as well.
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He further added that this all seems very exciting but will it be able to translate to a successful journey is yet to be seen.
